RBC Capital raised the firm’s price target on Domino’s Pizza (DPZ) to $460 from $440 and keeps an Outperform rating on the shares. The firm is modeling 2024 domestic same-store sales growth of 5.1% for the company versus consensus view of 4.0% and up from 1.5% in 2023. RBC also cites primary top-line drivers for Domino’s next year that include its recent agreement with Uber (UBER), its forthcoming loyalty program update that could potentially accelerate its carryout share gains, and an increasing pace of innovation, focused on both technology and menu.
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